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The IRS has expanded its on-line account tool. With this tool, taxpayers can obtain up to 18 months of tax payment history, tax balances due, transcripts and other information. www.irs.gov . If you have questions regarding the information contained on the transcripts, please call my office at 1888-382-7880 for a free confidential consultation. Don’t be Scammed IRS WARNS The IRS will never [...]

A ruling handed down by the U.S. Tax Court on May 11, 2017, indicated that the taxpayer in question could not blame their tax preparation software for improper deductions for alimony and interest. Barry Leonard Bulakites could be required to pay the IRS thousands of dollars in penalties and unpaid taxes as a result of errors he made when filing his taxes [...]

A recent case in North Carolina Eastern Bankruptcy Court clarified some issues regarding the ability of certain debts to be discharged in Chapter 7 bankruptcy proceedings. Ryan v. Defense Finance and Accounting Services outlines the case of a soldier who received an honorable discharge from the U.S. Army after re-enlisting for six years and accepting a re-enlistment bonus. Upon his involuntary discharge, [...]

Bank of America has been slapped with $45 million in punitive damages for their mishandling of a mortgage in California. The bank was cited specifically for the harassment experienced by the plaintiffs in the case and the emotional distress caused by those actions. The lawsuit arose because of Bank of America’s failure to comply with the automatic stay provisions of the U.S. [...]

One element of President Donald Trump's proposed tax reform plan may have a significant effect on residents of New York State. The plan would end the current ability of taxpayers to deduct the amounts paid for state and local taxes on their federal returns. Since residents of New York currently pay one of the highest state tax rates in the country, the [...]

A recent court case (United States v. Schmidt, 2016 WL 7230503 (E.D. Wash. 12/14/16).) {Consumer Bankruptcy News., 1/16/17 Vol27; Issue 7; Reuters, 2017)} shows the importance of filing tax returns. A couple in Washington State believed that 1099 income was not taxable even though they had W-2 and 1099. They filed the tax return and explained why they did not believe they [...]

If you have not been aware lately, it would be understandable if you had not given that many people rank dealing with the IRS like going to the dentist, the Internal Revenue Service has undergone a serious cutback in funding from Congress.  The results of which are noticed at different levels of interactions with the Agency. One aspect is that the Audit [...]